Insider Selling: Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Sells 62,590 Shares of Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 62,590 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total transaction of $501,345.90. Following the sale, the director now owns 1,968,886 shares of the company’s stock, valued at approximately $15,770,776.86. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Gautam Patel also recently made the following trade(s):

• On Thursday, January 2nd, Gautam Patel sold 17,410 shares of Amneal Pharmaceuticals stock. The shares were sold at an average price of $8.01, for a total transaction of $139,454.10.

Amneal Pharmaceuticals Trading Down 1.1 %

Shares of AMRX opened at $7.97 on Friday. The firm has a fifty day simple moving average of $8.22 and a two-hundred day simple moving average of $8.04. The firm has a market cap of $2.47 billion, a PE ratio of -11.72 and a beta of 1.10. Amneal Pharmaceuticals, Inc. has a 1-year low of $5.01 and a 1-year high of $9.48.

Institutional Trading of Amneal Pharmaceuticals

A number of hedge funds have recently bought and sold shares of AMRX. Barclays PLC boosted its position in Amneal Pharmaceuticals by 134.1% in the third quarter. Barclays PLC now owns 296,384 shares of the company’s stock worth $2,466,000 after purchasing an additional 169,756 shares during the last quarter. State Street Corp lifted its stake in shares of Amneal Pharmaceuticals by 3.8% in the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company’s stock worth $29,242,000 after purchasing an additional 127,753 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Amneal Pharmaceuticals by 20.7% in the second quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company’s stock worth $4,771,000 after buying an additional 128,772 shares during the last quarter. Geode Capital Management LLC grew its position in Amneal Pharmaceuticals by 11.1% during the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after buying an additional 378,136 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in Amneal Pharmaceuticals by 701.8% during the second quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock valued at $5,148,000 after buying an additional 710,598 shares during the last quarter. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMRX. Piper Sandler boosted their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Truist Financial boosted their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.00.

Amneal Pharmaceuticals Company Profile

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products.